Founded in 2012, Lending People has processed more than 230,000 loan applications through its proprietary origination software and generated hundreds of millions of dollars in loan advances for its lending partners.
In a statement, MTF Finance chairman Mark Darrow said the acquisition was part of the company’s long-term strategy to broaden its reach into new channels and markets while supporting and growing existing channels.
"Lending People operates digitally and is a key addition to enhancing MTF Finance’s portfolio.
"Its technology and performance marketing platform will grow the core MTF Finance business also," he said.
MTF Finance would buy all shares in Lending People which would transfer to the company early next month after completion of the sales and purchase conditions.
Lending People would continue to operate as a stand-alone business with co-founder Adam Chisnall in the chief executive role, reporting to MTF Finance chief executive Chris Lamers.
By: Staff reporter
